This year could be the year that blockchain emerges from its current status as a largely hypothetical game-changer to one that’s put to the test. While few working applications of blockchain technology are in use today by financial service providers, the industry continues to place its confidence — and money — behind the technology. The latest is global consulting firm McKinsey, whose new report has put a price tag on the potential of blockchain: $110 billion. That’s how much the global financial services industry (and, ultimately, their customers) could save by integrating blockchain solutions, the company said in its paper, published earlier this month. How and where that money is saved, though, depends on the use case of distributed ledger technology. Read more: pymnts.com
